Evernorth Signs Share Facility With $80.7M Gross Proceeds Estimate

Evernorth Holdings Inc. (Nasdaq: XRPN) signed a share-sale facility Friday, Oct. 23, that could help fund XRP purchases, with a gross proceeds estimate of $80.7 million based on the stock’s Oct. 22 reference price. Purchases generally are priced at 97% of the applicable volume-weighted average price. They also face a 4.99% beneficial-ownership cap and a general limit tied to 20% of shares traded during the purchase period. At the Oct. 22 Nasdaq closing price of $15.46, selling all available shares at that reference price would produce an estimated $80.7 million in gross proceeds.